Waterfront Toronto in Partnership with Toronto Parks Forestry & Recreation have launched a project to design and build two new parks: York Street Park and the Rees street Park.

Located at the southern foot of York Street, the York Street Park site is approximately 8,000 square metres (2 acres) and sits between the southern extension of the Financial District and the York Quay residential neighbourhood. It will occupy the site of the former York-Bay-Yonge eastbound off-ramp from the Gardiner Expressway, which was removed in 2016-2017.